Talos Energy (NYSE:TALO) Lifted to “Buy” at Zacks Investment Research

Talos Energy (NYSE:TALO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday, Zacks.com reports. The brokerage currently has a $24.00 price target on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 6.67% from the company’s previous close.

According to Zacks, “Talos Energy LLC engages in exploration, development and production of oil and natural gas properties. It operates primarily in the Gulf of Mexico and in the shallow waters off the coast of Mexico. Talos Energy LLC, formerly known as Stone Energy Corporation, is based in Houston, Texas. “

Other equities research analysts have also recently issued reports about the company. Northland Securities restated a “buy” rating and set a $40.00 target price on shares of Talos Energy in a research report on Tuesday, April 16th. ValuEngine cut Talos Energy from a “sell” rating to a “strong sell” rating in a research report on Monday, June 3rd. Roth Capital set a $45.00 target price on Talos Energy and gave the company a “buy” rating in a research report on Thursday. Finally, Stephens set a $37.00 target price on Talos Energy and gave the company a “buy” rating in a research report on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. Talos Energy has an average rating of “Buy” and a consensus price target of $38.17.

TALO traded down $0.03 during midday trading on Friday, hitting $22.50. 497 shares of the company were exchanged, compared to its average volume of 224,604. The company has a market capitalization of $1.22 billion, a P/E ratio of 8.42 and a beta of 1.74. Talos Energy has a 1-year low of $14.60 and a 1-year high of $37.64.

Talos Energy (NYSE:TALO) last posted its earnings results on Wednesday, May 8th. The company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.24. Talos Energy had a return on equity of 2.83% and a net margin of 14.59%. The firm had revenue of $178.71 million for the quarter, compared to analysts’ expectations of $178.06 million. As a group, analysts predict that Talos Energy will post 3.15 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. Encompass Capital Advisors LLC raised its position in Talos Energy by 9.0% in the first quarter. Encompass Capital Advisors LLC now owns 1,865,559 shares of the company’s stock valued at $49,549,000 after purchasing an additional 154,135 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in Talos Energy by 39.4% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 250,730 shares of the company’s stock valued at $6,659,000 after acquiring an additional 70,930 shares during the last quarter. Man Group plc purchased a new stake in Talos Energy in the first quarter valued at $266,000. SEI Investments Co lifted its position in Talos Energy by 20.8% in the first quarter. SEI Investments Co now owns 30,840 shares of the company’s stock valued at $819,000 after acquiring an additional 5,300 shares during the last quarter. Finally, Ellington Management Group LLC purchased a new stake in Talos Energy in the first quarter valued at $236,000. Institutional investors own 97.68% of the company’s stock.

About Talos Energy

Talos Energy Inc, an independent exploration and production company, focuses on the exploration and production in the United States Gulf of Mexico and offshore Mexico. The company was founded in 2011 and is headquartered in Houston, Texas.

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